Bitcoin

winkyincanada posted:

https://www.fastcompany.com/40...&utm_content=rss

 

Say it ain't so.....

CFTC Suspects Bitcoin Futures Price Manipulation

According to anonymous sources cited by The Wall Street Journal, the United States Commodity Futures Trading Commission (CFTC) is coordinating with the U.S. Justice Department in conducting investigations into price manipulation in the Bitcoin futures. The criminal probe was launched after several cryptocurrency exchanges rejected a request from the Chicago Mercantile Exchange, the financial company that sells futures contracts based on Bitcoin, to share trading data. The exchanges are Bitstamp, Coinbase, Itbit, and Kraken.

Yes, indeed in the US... similar things have been happening elsewhere in the world for some time now... and good. Although despite this I have not heard any evidence of any manipulation having yet been found... but there have been one or two suspect, in my opinion,  actions when new currencies have been enabled on certain exchanges.... 

But it is getting very big business these days, with for example the Coinbase Crypto Index Fund now open for investment amongst many others... given the reset from last December/November I suspect we will quite a bit of volatility as chance for quick profiteering has increased significantly and I am not sure how good or healthy that really is... one upside, big business brings more scrutiny at Crypto/fiat exchanges and that has got to be a good thing.

Indeed Bitcoin and most blockchain technologies are not truly anonymous (never quite sure why anyone thought they were but ho hum) which is one of the main reasons why they are a secure way of auditably transfering value. However there are a few niche cryptos that use  interesting technology  like ZCash and Mondero that are truly anonymous like cash and  one hears  anecdotally they can be used for unlawful activities in certain parts of the world as they are more convenient than cash.

What i do find interesting is the value of Bitcoin to other major Cryptos, and since the December peak Bitcoin has been slowly losing its dominance in favour of new technology and more flexible cryptos... and the ratio of the values of the cryptos is reflecting that... I suspect this will continue.. and Bitcoin will simply become somewhat of a specialist legacy Crypto of value only used by a few  and an exchange reference value standard, as well a generic layman reference for cryptos in general. 

http://www.abc.net.au/news/201...ce-money-bis/9879448

Well, they would say that, wouldn't they?

Simon-in-Suffolk posted:

.....they can be used for unlawful activities in certain parts of the world as they are more convenient than cash.

.

 

Due to the high costs of using cash for those same unlawful activities.

As the Western world descends into fascism Bitcoin will die.

I always knew there was a risk involved with Bitcoin but I never imagined a complete geopolitical realignment would turn the USA into a fascist nightmare.

Goodbye Bitcoin. The world doesn't deserve nice things.

Steve Bannon ICO: Deplorable Coin? Who's buying?

Oh well it was nice while it lasted. It seems as though those who had to the good sense to use it as a temporary money making venture had it off as we say in my part of the world but those who built a future or a retirement on it now have sad faces.  

The crypto space more generally appears to be evolving well now.. and returning to perhaps its longer term pattern in terms of stored value.. which is interesting... I agree Bitcoin is relatively declining and making way for the newer tech.. I have been watching for a little while and this transfer over and redistribution of value to other cryptos has been rather consistent and interesting to observe. Bitcoin has also become more stable in value, which makes it useful as a reference. Not to say there won’t be another surge and collapse like last November/December, but I guess that sort of pattern attracts the wrong sort of interest... albeit it is fun whilst it happens.

Interesting also with the news of the Korean exchange Bithumb cyber crime attack.. the crypto market in my opinion has been quite resilient to this so far, say 6 months or so back such an event in my opinion would have had far more impact.

Simon-in-Suffolk posted:

Interesting also with the news of the Korean exchange Bithumb cyber crime attack.. the crypto market in my opinion has been quite resilient to this so far, say 6 months or so back such an event in my opinion would have had far more impact.

Just get out and into gold while you still have time.

Jesus, you told me Bitcoin was it and I was 100% going to be a multi millionaire. Within a few months it’s now get out and run fast. I’ve sold my house, got no where to live and my partner’s left me. What do I do now then? 

count.d posted:

Jesus, you told me Bitcoin was it and I was 100% going to be a multi millionaire. Within a few months it’s now get out and run fast. I’ve sold my house, got no where to live and my partner’s left me. What do I do now then? 

 

I never considered the USA would rapidly turn into fascist dictatorship. That political risk, to be honest, never crossed my mind. In fact a year ago I would have said that the idea was absurdly alarmist. Now... the rule-of-law is under attack by the Executive branch. The Executive is not defending or upholding the US Constitution. It is clear to me that the US will soon become a 100% autocratic State. Given the unprecedented attacks against our democracy I have chosen gold as a better option to secure my families continued existence.

Nothing is wrong with Bitcoin. It could have done tremendous good for the people. It still might!  My personal priorities have shifted from democratization of money to having the ability to bribe my way out of the country and into a sane state like Switzerland.

I know you are being sarcastic but I am being dead honest.

Kevin Richardson posted:

...!  My personal priorities have shifted from democratization of money to having the ability to bribe my way out of the country and into a sane state like Switzerland.

Hmm... having very close connections with Switzerland... I think you’ll find it’s as insane or sane as most western democracies... I certainly would not hold it up as some sort of beacon... 

Simon-in-Suffolk posted:

Kevin Richardson posted:

...!  My personal priorities have shifted from democratization of money to having the ability to bribe my way out of the country and into a sane state like Switzerland.

Hmm... having very close connections with Switzerland... I think you’ll find it’s as insane or sane as most western democracies... I certainly would not hold it up as some sort of beacon... 

I worked the google machine and determined Switzerland wouldn't allow extradition for certain crimes. It also would put me in the center of the wris****ch world so.... I'd have something to do.

Bitcoin is back baby.  I just dumped my retirement fund to purchase the coins.  Happy as a clam today!

Kevin Richardson posted:

Just get out and into gold while you still have time.

I really wouldn't worry - if I were you.

We'll all probably encounter an asteroid, tsunami, sinkhole or nasty case of the 'flu before the plans we've made for eternal life can come to fruition.

You, sur l'autre main, will likely be pummelled to death by some hapless friend or acquaintance - cracking under the barrage of  your demented, changing certainty.

Adam Meredith posted:

Kevin Richardson posted:

Just get out and into gold while you still have time.

 

You, sur l'autre main, will likely be pummelled to death by some hapless friend or acquaintance - cracking under the barrage of  your demented, changing certainty.

Yes by me. I'm on the streets now begging. I managed to keep the 300 though. I use it for a pillow, a seat and it gives me hope that I'll return to a normal life one day. Thanks Kevin, if you ever walk past, give me a fiver (£ not $). 

banzai posted:

Bitcoin is back baby.  I just dumped my retirement fund to purchase the coins.  Happy as a clam today!

I suspect that you are joking. I sincerely hope that this is the case.

Hmack posted:

banzai posted:

Bitcoin is back baby.  I just dumped my retirement fund to purchase the coins.  Happy as a clam today!

I suspect that you are joking. I sincerely hope that this is the case.

Well, I am *almost* as serious as the current POTUS.

Positive news for bitcoin - NYSE represent the US capitalism, and now it is serious about bitcoin, that means bitcoin would probably become some sort of mainstream "digital" currency.

(Reuters) - Intercontinental Exchange Inc (ICE.N), the owner of the New York Stock Exchange, said on Friday it plans to form a company and trading platform for digital assets, such as bitcoin, as well as a physically delivered bitcoin futures contract.

Thirteen months after my initial post a pre-fork Bitcoin is up 148%. Not too shabby but not great when adjusted for risk. I hope BTC can survive the next few years.